Bitcoin (BTC) Traders are betting on the Upside Is the Great Bull Run on the CardsJuly 22, 2020
The BBC reported that Coinbase, the cryptocurrency exchange prevented several thousands of pounds in worth of Bitcoin from getting transferred to scammers.
Coinbase have reportedly blacklisted the hacker’s wallet addresses thus preventing more than 1,000 customers from sending nearly $280,000 worth £220,000 to scammers.
The investigation is continuing at Twitter. Users are temporarily blocked from tweeting bitcoin wallet addresses. Reportedly, the hackers have had access to 130 accounts out of which 45 of these accounts were used to ask members to send Bitcoin.
Sydney Ifergan, the crypto expert tweeted: “About the Bitcoin (BTC) scam it is good to see exchanges stopping scammers on their tracks. This is the best that can be done in the first step to prevent scams.”
Exchanges are supposed to do this because everything about them is based on their legitimacy and security factor. If they are not doing anything about such scams, they will lose business and investors, which is not good for their business.
With so much of mess some of the analysts have to say that there will likely be a monster breakout over the next three days. They point to volatility indicators and state that the prices are continuing to tighten on a macro scale.
Also, it is interesting to see that several traders are also betting on the upside. The on-chain indicators that they rely on are based on facts like miners are not selling, there are no significant BTC exchange inflows from whales, and all exchanges reserve hitting the low for the year while maintaining that low a month ago.
A great bull run is surely not on the cards because the markets are apprehensive about what next. There is no light to where the world economic is trending. Despite it all, the bullrun prediction continues to survive.
Bitcoin (BTC) Contrary Opinions
The coronavirus induced crash in the stock market and BTC working in synch with the stock market left several investors wondering if BTC can be considered to be a safe haven asset.
CZ recently stated, “The stock market is probably a thousand times bigger than the crypto market.” He also opined that people should not take the Bitcoin Safe haven idea literally.
The BTC price did recover the March losses quickly; however, Binance CEO CZ have to warn that the BTC price is tied to the stock market. And that a future stock market crash as one having the ability to send the Bitcoin price lower.